2:45 AM,
Oct. 2, 2012

The NewPage Paper Mill along the Wisconsin River in Wisconsin Rapids.

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A major central Wisconsin employer currently in Chapter 11 bankruptcy protection has reached an agreement in principle with all of its major creditors about the terms of its restructuring plan.

NewPage Corp., which employs about 1,700 people at facilities in Wisconsin Rapids, Biron and Stevens Point, announced the agreement Monday. If approved, the papermaker would emerge from bankruptcy as a standalone company with a new board made up of representatives from the company's primary creditors, said Cliff Bowers, a local spokesman for the Miamisburg, Ohio-based company.